THE demand for rented homes is outstripping supply in the Highlands and Islands which caused average rents in the area to rise by 3.8% in the year to May.
It mean that the Highland and Islands have regained the probably unwanted accolade of being the most expensive region in Scotland for rental prices according to Your Move Scotland’s rental tracker.
Rental prices in the region grew by 0.6% month-on-month to hit £692, representing an average price rise of 3.8% in the last year, faster than anywhere else in the country.
The average rent in Scotland now stands at £582 per calendar month, seasonally adjusted, and average Scottish rent increased by 1.7% in the last year.
On an annual basis, four of the five regions surveyed saw prices rise in May and the South of Scotland remains the cheapest region to rent, with an average rent of £542 pcm (seasonally adjusted) Brian Moran, lettings director, of Your Move Scotland, said: “Although the property purchase market may have slowed in some areas, demand for rented homes continues to outstrip supply.
“This was seen most strongly in the Highlands and Islands region, where prices have leapt in the past year.
“Scotland’s major cities of Edinburgh and Glasgow showed impressive monthly figures, demonstrating the enduring popularity of these areas.
“May was a positive month for the rental market.”
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel